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Spring Technology Insurance Newsletter
April 2011 (3rd Edition)
Welcome to Spring!

This is the third edition of the Johnsonese Brokerage Technology Insurance Newsletter. The goal of our quarterly newsletter is to provide useful information about insurance to independent technology businesses. 
  
Both the weather and the economy are finally showing signs of improvement. Crain's Chicago Business had a recent article stating that if your revenues are rebounding, so are your risks. If you've added employees, you may want to review your Errors & Omissions insurance. More hands touching projects increases the risk of errors. E&O helps protect against claims relating to professional errors.

 

If you've added board members or executive officers you may need to consider Directors & Officers insurance. This coverage helps protect these individuals from lawsuits relating to their roles in the business.


Overall, the article recommends an insurance review if you have seen a change in your business of 20-25% or more.
  
  
In This Issue
Venture Capital Event Invitation
Flash-Cookie Tracking Lawsuit
Top Ten Data Breaches of 2010
Help with Understanding Workers Comp
Safe Grilling Tips for Spring/Summer

 

Venture Capital Event April 28th in Chicago 

 
Ross LogoI'm co-chairing an event for the University of Michigan Ross School of Business Alumni Club of Chicago. The event is on April 28th and is titled "Recovery 2011 - How Entrepreneurship, Startups and Venture Capital can Lead the Way". We've put together a panel of six impressive speakers. If you have an interest in venture capital or entrepreneurship you should attend! Everyone is welcome!

 

Our confirmed speakers include:
 

  • Frank Ballantine, Partner at Reed Smith, Head of the Emerging Growth and Venture Capital Group
  • Rob Eastman, President Eastman International
  • David Evans, Chairman, Glencoe Capital
  • Professor Erik Gordon, Managing Director Wolverine Venture Fund
  • Kenneth Nisbet, Executive Director, University of Michigan Technology Transfer Office
  • John Roberson, Executive VP Chicagoland Entrepreneurial Center
You don't need to be a Michigan grad to attend. Click here to register or get more information about the event.
 
 

 

Flash-Cookie Lawsuit

 

Flash cookies were originally designed to remember users' preferences for Flash-based applications, like online video players. But some companies also use such cookies to store the same type of information that is normally found on HTTP cookies. Flash cookies historically persist longer than HTTP cookies because users who delete HTTP cookies don't necessarily also delete Flash cookies. 

 

A report about Flash cookies published in 2009 by researchers at the University of California, Berkeley and other schools outlined how Flash can be used to circumvent consumers' settings. That report led to a flurry of privacy lawsuits.

 

Two companies have already agreed to pay $2.4 million to settle two class-actions alleging that they violated people's online privacy by using Flash cookies for tracking.

 

An ad network is fighting a similar class action suit in California.

The company argues that the lawsuit should be dismissed because the consumers did not assert in the complaint that they were harmed economically by the alleged privacy violation.

 

-Online Media Daily, March 11, 2011

 

 

Top Ted Data Breaches of 2010

 

Data security is obviously important to all companies. Yet failures still occur at even major corporations. Here is a listing of the largest failures of 2010:

 

10. Affinity Health Plan:  409,000 records (A digital copier was returned to a warehouse without hard disk erasure.)

 

  9. WellPoint/Anthem BlueCross: 470,000 records (Altered URLs could have been used to access personal data.)

 

 8. CitiGroup: 600,000 records (Annual tax documents were mailed that had Social Security numbers printed on the outside of the envelope.)

 Laptop in Chains

 7. Ohio State University: 760,000 records (Hackers are believed to have used a university server to launch attacks against other businesses.)

 

 6. South Shore Hospital: 800,000 records (Three boxes of tapes were lost in transit.)

 

 5. Lincoln National Financial Securities: 1.2 million records (A corporate username and password were posted on a public website.)

 

 

 4. AvMed Health Plans: 1.2 million records (Two laptops were reportedly stolen from corporate offices.)

 

 3. Gawker: 1.3 million records (A database was hacked by Gnosis.)

 

 2. Educational Credit Management Corp: 3.3 million records (Safes stolen from this firm contained portable media used to store personally identifiable information.)

 

  1. Netflix: 100 million records (Data sets were sent to contest participants.)

 

 

 

 

-eSecurity Planet, January 21, 2011

 

Help with Understanding Workers Comp

 

I think Workers Comp can be one of the most confusing types of insurance for small businesses. For example, do you know if your free lancers or sub-contractors need to be covered by your Workers Comp policy?

 

Hartford insurance has come up with a web tutorial on Workers Comp that can help you answer these and other similar questions.

The tutorial is free and you don't have to provide any contact information or other data to use the site.

Here's the link if you'd like to give it a try.

 

Hartford Logo



 

Safe Grilling Tips for Spring/Summer

 

Every year, hundreds of fires are started by grills causing injuries and burns, some fatal. Most of these are the result of unsafe grilling practices. If you like to grill, it doesn't hurt to review these safety tips:

 

1. Only grill outdoors and away from the house and otherGrill structures.

 

2. Never store a grill indoors; don't attempt to move it until it has completely cooled.

 

3. Never leave the grill unattended, once lit; keep a fire extinguisher close by.

 

4. Keep the lid open when lighting the grill.

 

5. Keep your grill clean to avoid grease fires.

 

6. Keep children and pets a safe distance away from grills.

 

7. Regularly check the grill for cracks and leaks. Do not light a match to check for leaks.

 

8. For charcoal grills, use starter fluid sparingly, and never add it to an open flame.

 

9. For propane grills, make sure the spark igniter is consistently generating a spark to create a flame and burn the propane gas. If the flame is not visible, gas may be escaping and could cause an explosion.

 

10. Always store propane tanks outdoors, in an upright position.

 

In the event of a fire, close the grill cover if using a charcoal grill. For propane grills, turn off the burners. Also shut off the take valve, if possible. Never try to extinguish a grease fire with water; it will cause the flames to flare up. Only use an approved fire extinguisher. If personal safety or property is at risk, call 9-1-1 immediately.

 

-The Injury Board Blog Network, August 02, 2010




The Johnsonese Brokerage can assist you with most of your art insurance needs. To get started immediately call 773.857.0242 or Email info@johnsonese.com.

Chris Johnson
Christopher Johnson


About the Johnsonese Brokerage
 
The Johnsonese Brokerage LLC is a licensed and bonded independent insurance agency focused on insuring independent creative businesses.
 

Who we insure:
  • Computer Consultants
  • Computer Equipment Distributors
  • Computer Maintenance and Repair
  • Database Developers
  • Electronics Design Consultants
  • Electronics Distributors
  • NEDA Members
  • Network Consultants
  • Manufacturers Reps
  • Outsourced IT Service Providers
  • Software Developers
  • Software Programers
  • Technology Sales & Marketing
  • Technology Solopreneurs
  • Technology Trade Shows
  • Telecom Service Providers
  • Value-Added Re-sellers
  • Website Developers/ Designers  

 

 

We are licensed in the states of California (license #0G69323), Florida, Illinois, Indiana, Kentucky, Maryland, Michigan, Minnesota, Missouri, New Jersey, New York, Ohio, Pennsylvania, Texas and Wisconsin.

 

 

 

 

How are we doing? Your feedback is always welcome!

 

 

 

 

 

Common Insurance Terms   

 

1. Deductible

The portion of an insured loss to be borne by the insured before any recovery will be paid by the insurance company


 

2. Business Owners Policy (BOP) 

 

A package policy that combines property and liability coverage; designed for small to medium service businesses 

 

 

3. Directors and Officers Liability Insurance (D&O)  

 

Insurance that protects directors and officers from liability claims relating to their work for an organization.

Quotes We Like

 

'I find myself attracted to businesses that couldn't exist before now.'

 

Lightbank co-founder Brad Keywell, from Crain's Chicago Business Today

 

 

 


Our Business Partners
 
 
  • AmWins
  • AXA
  • Chubb
  • CNA
  • Hartford
  • Insurance Noodle
  • Markel  
  • Philadelphia
  • Risk Placement Services